Why am I only one PO'd about 1983 SS Amendment not being updated
As most of you are aware, the Social Security Amendment of 1983 made social security benefits taxable, IF your 'combined income' is over $25,000 per year.
Your adjusted gross income
+ Nontaxable interest
+ ½ of your Social Security benefits
= Your "combined income"
In 1983 people were pissed that richie rich people who didn't NEED social security benefits were collecting it and squandering it on whatever struck their fancy. Taxing them sounded sensible, even to me, especially since I wasn't collecting yet. BUT put that $25,000 figure in an inflation calculator and, whadya know, it's $64,000 in today's dollars. So, nowadays it's not the richie rich's ss benefits Congress is raping, it's the little guys. Like me. Ouch. Which of course is just how they like it, Congress doesn't depend on ss for their own income.
If most of you guys don't NEED that yearly $20,000 to live on, I can understand why you wouldn't give a shit. Ignore me or make jokes.
But most of the people I know locally DO depend on, NEED, that ss income in their retirement, yet I never hear any complaints about how they're getting screwed. ??????
For the past seven years I've been driving school bus (you can see where I am in the pecking order) and every year congress has been raping my ss benefits. Now that I HAD to stop that cushy job, I gotta cash my savings bonds (that quit paying interest, gee, just like banks), so congress gets to rape my ss again if I want to draw out my savings..
So how come people aren't PISSED? No reason Congress couldn't adjust that 'combined income' figure for inflation (and put a yearly adjustment on it), just enough people need to get mad!
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